The National Bank of Ukraine has asked banks to consider the possibility of changing the terms of loan contracts concluded between banks and individuals conscripted into army to perform military service in order to help borrowers service their debt and meet their debt obligations under loan contracts. In particular, the National Bank of Ukraine has come up with a proposal to devise schemes to help borrowers repay both the initial principal and the interest and asked banks not to impose penalty interests on borrowers that have failed to meet their debt obligations.

Three banking associations have joined this initiative.

To date, several banks have already devised the schemes designed to help military men and started providing assistance to those borrowers who have been conscripted into army to perform military service. PRIVATBANK, DELTA BANK, BANK FINANCE AND CREDIT, and UKRGAZBANK are among the banks that have joined hands in effort to help military men.